World Reacts to US Supreme Court Striking Down Trump Tariffs
After the US Supreme Court struck down President Donald Trump’s authority to impose sweeping global tariffs, countries are questioning how the move will impact ongoing trade agreements and the likelihood of Trump finding ways to circumvent the ruling.
REPORTER:
In a major ruling, the US Supreme Court struck down US President Donald Trump’s authority to impose sweeping global tariffs.
Trump then announced a 10% levy on global imports... later lifting it to 15%.
Canadian minister Dominic LeBlanc ... who’s in charge of trade with the US ... says the decision reinforces Canada's position that the US-imposed tariffs are “unjustified."
While other world leaders say the Supreme Court decision reinforces democratic checks and balances.
For some countries, the ruling offers immediate relief ... India’s exports to the US had been subject to 50% tariffs ... set to be lowered to 25% under a new trade deal... and now falling to the new 15% levy. Now, India is delaying US trade talks that had been expected this week.
But many countries are questioning how the move will impact ongoing trade agreements... And whether Trump will find other ways to circumvent the Supreme Court ruling.
EU leaders say they expect Washington to uphold the trade deal reached last year and will accept no further increase in tariffs....
...while Asian economies are cautiously monitoring the impact, with South Korea, Japan and Taiwan saying they will consult with US officials.
KIM JUNG-KWAN, SOUTH KOREAN INDUSTRY MINISTER:
The government will continue to engage in constructive talks with the US to ensure that the balance of interests secured under the South Korea–U.S. tariff agreement—grounded in the principle of maximizing our national interest—remains intact.
REPORTER:
And some analysts say Asian economies are unlikely to keep negotiating new deals with Washington.
HENRY GAO, SINGAPORE MANAGEMENT UNIVERSITY:
I don't expect much would happen because I doubt most Asian economies will try to use (trade) as a leverage in the negotiations with the U.S. Because for many of them, the U.S. is not just a major export destination. It is also a security partner, especially for countries like Japan and Korea, a technology partner, and also a financial anchor.
REPORTER:
Even without new negotiations... countries are still waiting for clarity on new tariff mechanisms, and hoping the US will still honor its side of the deal.
Yuan Tuan and Lily LaMattina for TaiwanPlus.
